Quote of the day

Brett Steenbarger, “The value of information filters is that they minimize distractions and interruptions from sources with low signal-to-noise ratios.”  (TraderFeed)

Chart of the day

Crude oil is weakening.  (Kimble Charting)

Markets

Pros are betting against this market while amateurs load up.  (The Reformed Broker)

The highest dividend yields by country.  (Bespoke)

Forward earnings continue to tick higher.  (Dr. Ed’s Blog)

Copper prices are perking up.  (Dragonfly Capital)

Why our expectations run the markets.  (A Wealth of Common Sense)

The Fed is now talking down markets.  (Focus on Funds)

Strategy

Why you should distinguish between bubbles and manias.  (TraderFeed)

At some point market bears just get worn out.  (Vitaily Katsenelson)

100% of investors make mistakes.  (Pragmatic Capitalism)

Comparing simple and complicated models to forecast long-term stock market returns.  (Alpha Architect)

The Secret Club That Runs the World by Kate Kelly is a “very good book.”  (Aleph Blog)

Finance

Equity research is declining in quality.  (Digits to Dollars)

The rush to tax inversions makes for strange bedfellows.  (Dealbook)

Why you should expect more tax inversions in pharma.  (Dealbook)

Funds

Simon Lack, “For the investor, it’s not a bad rule to simply eliminate from consideration any investment manager not personally and significantly invested in his own strategy.”  (SL Advisors)

All is not well between Pimco and bond bigfoot Bill Gross.  (WSJ)

On the differences between high yield bonds and bank loans.  (ETF)

Calamos ($CLMS) is getting into ETFs in a transparent fashion.  (Focus on Funds)

Yet another year in which active management doesn’t pay off.  (The Reformed Broker)

Global

Can China manage its own economic deceleration?  (FT Alphaville)

Investors can’t get enough Aussie bonds.  (WSJ)

The Australian and Canadian dollar are no longer all that correlated.  (FT)

Earlier on Abnormal Returns

What you might have missed in our Monday linkfest.  (Abnormal Returns)

Mixed media

We are underestimating the effect of car sharing and self-driving cars.  (Seth Godin)

Fantasy sports are looking more like Wall Street every day.  (MoneyBeat)

The value-of-practice debate just shifted towards talent.  (NYTimes also EconLog)

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